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Tackling new media challenges and opportunities through ecosystem capabilities
The COVID-19 pandemic has accelerated the shift in customer preferences for digital media. For media and entertainment houses it has become crucial now to reinvent themselves while leveraging technology and opportunities presented by the digital economy to create value and remain sustainable. Ecosystems which include monetization models covering all partners and are purpose-centric will be key to driving value for the customer. This is made possible by:
Identifying the right (intra or cross industry) partners for the business models
Deciding on the value exchange between the ecosystem players to co-create value for the end customers
Having a clear vision of the type of business they want to be while embarking on a transformation journey
Adapting ecosystem-based business models to disrupt and survive successfully
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